The Vietnamese government has approved Toyota's plan to make an additional investment of approximately $283 million to build a new production line, including for hybrid vehicles, in Phu Tho Province, Vietnam.
Phu Tho Province, Vietnam, has granted an adjusted investment policy decision and an investment registration certificate for Toyota's project to build a new production line, enabling the Japanese automaker to modernize its plant and prepare for hybrid vehicle production. This will allow Toyota to expand its local operations.
The project has a total investment of more than $283 million, covers 28.6 hectares, and has registered annual production and assembly capacity of approximately 52,000 vehicles. The production of vehicle bodies and other automotive parts is also planned.
Toyota Vietnam plans to begin construction of the paint and stamping plants in May 2027, with operations scheduled to start in 2029. The plants are expected to provide the production base for new CKD models, including hybrid vehicles.
In the Vietnamese market, Toyota sold 8,314 hybrid vehicles in the first 7 months of 2026, accounting for 66% of the hybrid vehicle market. The Corolla Cross HEV, Innova Cross HEV and Yaris Cross were cited as particularly strong-selling models.